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  • Writer's picturePeet Serfontein

Analyst thoughts: Top 40 Medium-term

VIEW RETAINED FOR AN ONGOING 66 350 TO 73 400 PRICE CONSOLIDATION

  • The general view of a PQ* defined consolidation phase remains preferred. The labelling has been adjusted but with the same outcome.

  • Current downside should target Q*, to complete phase W.

  • The interim view of R1/S0 ranging is materialising and most likely still part of the current W downside to Q* and S1*.

  • Further XY phases would eventually result in a re–emergence of the bull trend to T1 and T2.

  • The pivotal level for the illustrated bullish bias is at Q*/S1* cluster support.

Target and Re-assessment Levels:

Important Levels: Q*/S1*

Primary Trend and Target Levels: P*/Q* ranging, followed by gains to T1 and T2.

Monthly Range: R1/S0 consolidation

Prevailing Trend and Target Levels: R1/Q

Technical Rating: Medium



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